Entrepreneurs must possess a set of core beliefs that cause them to conclude they’re not engaged in risky businesses. First, they must adore the idea of being in control of their own destinies. Second, they need to have confidence they can solve any problem that confronts them. Third, they should be impatient, and, therefore, reluctant to wait to reach the top of a public corporation in the traditional way; they want to be CEO immediately so they can fulfill their vision, and the best way to do that is to start or own their own companies. Fourth, they should refuse to be limited in income or achievement relative to any other group of managers who may not work as hard or be as productive as they are. Entrepreneurs and family businesses need courage in great quantities, and they must not be afraid to take risks and step into the unknown.
Wayne Rivers President Family Business Institute Raleigh, N.C.